Making a living as a musician can be difficult. Unless you’re one of the lucky few to have had a big hit, you probably need another job to support your music career. But don’t give up hope! There are plenty of ways to make money as a musician. In this blog post, we’ll discuss some of the best ways to monetize your music. So read on and start making some extra money!
How to make money as a musician
Some of the income streams available to musicians may sound obvious, although we’re sure you’ll find a few gems here.
1. Live performances – This is probably the most obvious way for musicians to make money, but it can also be the most profitable. If you have a good stage presence and fans who come to see your shows, this could be a great source of income for you. Venues can pay performers a flat fee or offer them a percentage of the ticket saleso don’t rule out the possibility of performing live.
2. Record sales – Selling recordings of your music is still an important source of income for musicians. CDs aren’t as popular as they used to be, but digital downloads are on the rise and streaming services like Spotify are growing in popularity. Make sure to distribute your music across all platforms and set up a fan club so you can create special offers for buyers. Make sure you choose a distributor that distributes your music at a minimum: Spotify, Amazon, Apple Music, and Deezer.
3. Music Licensing – Music licensing is the practice of allowing outside companies to use your music for their own projects, such as TV shows or movies. This can be a great source of passive income if you can make deals with reputable companies. Make sure the terms of the deal are mutually beneficial before signing a contract!
4. Merchandise – Selling merchandise related to your music is another great way to make money as a musician. T-shirts, hats, key chains and other items with your logo give fans a chance to show their support for your music. You can even create limited edition items to add value and make them more attractive to buyers.
6. Sell vinyl – Vinyl is not dead, and selling your music on vinyl can be a great way to make some extra money. Vinyl records are becoming increasingly popular among the younger crowd and can give your music a unique physical presence that digital formats just can’t provide.
7. Live streams & Twitch – Live streaming is becoming increasingly popular and can be a great way to make money as a musician. Platforms like Twitch, YouTube Live and Instagram allow you to stream music performances online and are often overlooked by musicians.
8. cartridge – Patreon is a great platform for musicians who want to monetize their music. It allows artists to create memberships that offer exclusive content and products to fans in exchange for recurring payments. This can be an effective way to monetize your music without depending on streaming services or record sales.
9. crowdfunding – Crowdfunding platforms like Kickstarter and Indiegogo are a great way to fund projects and make money as a musician. These sites allow you to reach out to fans who want to support your career by pledging money in exchange for exclusive content or products.
10. making beats – If you are a skilled producer, you can make money by making beats and selling them to other artists. This can be a great way to earn extra income without depending on record sales or live performances.
11. Collect royalties for public appearances – Be sure to register your music with a performance rights organization to collect public performance royalties when your music is played on radio, TV or streaming services. This small amount of income can add up over time and be worth it.
12. Get digital royalties with SoundExchange – SoundExchange is a royalty collection agency that collects digital royalties on behalf of musicians. Signing up with them ensures that you get paid whenever your music is streamed online.
13. License your music – You can also make money by licensing your music to other artists or companies. Companies are always looking for licensed music to use in their projects, so don’t be afraid to reach out and inquire about licensing options.
14. Start a YouTube channel – If you have an existing fan base, starting a YouTube channel is one of the best ways to promote your music and make money as a musician. You can even monetize your videos with ads if you reach certain subscriber thresholds.
15. sponsorship – Sponsorships are another great way to make money as a musician. Reach out to companies in your niche and offer them the chance to sponsor your music or live performances. This can be an effective way to generate some extra income while promoting your brand.
16. Writing for music publications – If you have a talent for writing, consider writing for music publications such as Pitchfork and Rolling Stone. These publications generally pay for quality articles and can give you exposure that will help you reach more people with your music.
17. Influencer marketing – Influencer marketing is becoming increasingly popular and can be a great way to make money as a musician. Reach out to influencers in your niche and offer them the chance to promote your music or products. This can be an effective way to reach more people with your music and earn some extra money at the same time.
18. Making merchandise – Making merchandise like t-shirts, hats, mugs, etc. is another great way to make money as a musician. Not only will you earn extra income selling these items, but they will also help promote your brand and reach more people with your music.
19. Do session work – Doing session work is another great way to make money as a musician. Companies are always looking for talented musicians to record parts or play live shows, so don’t be afraid to reach out and inquire about available gigs near you.
20. Create your own music platform – If you don’t want to depend on streaming services like Spotify or Apple Music, consider creating your own music platform. This allows you to control how people consume your music and you can earn money directly from it. You can also use this platform to promote other products and services related to your music.
21. Apply for music scholarships – There are also plenty of music scholarships and awards available to musicians, so keep an eye out for these opportunities. Applying for a scholarship or award can provide you with the financial support needed to support your music career to the next level.
22. Create a course – Making a course is another great way to make money as a musician. Platforms like Udemy allow musicians to create courses that teach people how to play an instrument or how to write music. This can be a great way to earn some extra income while helping others learn more about your craft.
23. Sell services on Fiverr – Fiverr is a great platform for selling services such as music production, mixing and mastering, songwriting, etc. Not only can you make some extra money with these services, but it also gives you a chance to connect with potential clients about worldwide.
24. Collect royalties for live performances – Collecting live performance royalties is another great way to make money as a musician. These can be streaming performances that you have done, but also physical performances such as concerts and festivals. Be sure to track your performance so you don’t miss out on potential royalties.
25. Write an eBook: If you have any knowledge or expertise related to music, consider writing an e-book about it. This can be a great way to monetize your knowledge and reach more people with your music. Platforms like Amazon make it easy to self-publish your book, so don’t be afraid to give it a try!
26. Create a paid newsletter on Substack – Substack is a great platform for creating paid newsletters that help you earn money as a musician. Not only will you earn some extra income from the subscribers, but it will also give you a chance to engage with your fans and keep them updated on new releases or tours.
Making money as a musician is not an easy task, but it is possible with the right strategies. Take advantage of the above tips and start monetizing your music today! With hard work and dedication, you will soon earn more than enough to continue pursuing your passion. Good luck!